Independent Proxy Voting Advisors Recommend Shareholders of The Salomon Brothers Fund Vote For the New Management Agreement

The Salomon Brothers Fund Inc. (NYSE: SBF) today
announced that both Institutional Shareholder Services (ISS) and
Glass, Lewis & Co. (Glass Lewis), the nation's leading independent
proxy voting advisory firms, are recommending that shareholders vote
in favor of a new management agreement with Salomon Brothers Asset
Management Inc. (SBAM), to take effect upon the completion of Legg
Mason's purchase of Citigroup's asset management business. ISS's
voting analyses and recommendations are relied upon by more than 1,500
major institutional investment funds, mutual funds, and fiduciaries
and Glass Lewis's voting analyses and recommendations are relied upon
by clients that collectively manage more than $8 trillion.
   ISS and Glass Lewis made their recommendations after considering
the effort and arguments of Elliott Associates, L.P. and Elliott
International, L.P. ("Elliott"), two related hedge funds, to solicit
votes against approval of the management agreement.
   In its report, ISS noted that: "SBAM has performed well as
investment advisor, leading to strong returns for shareholders over
the years. The board is also carefully monitoring any discount, but it
will not seek the discount's elimination at the expense of long-term
shareholders. A vote against this proposal may create significant
uncertainty for the fund and its shareholders. ISS does not believe
that this is the proper means to narrow the discount."
   The ISS report continued, "Furthermore, the fund's closed-end
structure is a fundamental component of the fund's investment
objective and is critical to its successful implementation. In
conclusion, ISS believes that long-term investors, presumably the
majority of shareholders, can still benefit from this fund's overall
performance and relatively low expense."
   Glass Lewis's report noted that there would be no increase in
management fees and stated "Elliott has not recommended a specific
alternative strategy for shareholders to consider. We do not believe
that it is in the Fund's best interest to operate without an active
management agreement."
   "The Board is pleased that ISS and Glass Lewis have recognized the
compelling reasons for approving the new management agreement," said
R. Jay Gerken, Chairman of the Board. "Acting in the interests of all
Fund shareholders, the Fund's Board has approved, and recommended that
shareholders vote for approval of the new agreement, using the white
proxy card they have received from the Fund.
   "Under SBAM's management, the Fund has outperformed its benchmark,
the Standard & Poor's 500 Index, based on both market price and net
asset value, over the three-year, five-year and ten-year periods ended
August 31, 2005, according to Lipper Analytical Services," continued
Mr. Gerken. "Furthermore, the Fund will be aligned with an
organization with an excellent reputation, focused solely on asset
management following completion of the Legg Mason transaction. Legg
Mason has a strong record of long-term performance in asset
management."
   As of May 31, 2005, 98% of Legg Mason's open- and closed-end
mutual fund assets had beaten their Lipper category averages over ten
years, according to Lipper Analytical New Applications (excluding
money markets).
   The Fund's Directors, including all Independent Directors,
approved a new management agreement between SBAM and the Fund,
following the announcement of Citigroup's intention to sell its asset
management business to Legg Mason, in exchange for Legg Mason's
broker-dealer business and other consideration. The Legg Mason
transaction is expected to be completed by Citigroup in the fourth
quarter of this year, at which time the new management agreement is
intended to become effective.
   Shareholders can vote for approval of the new agreement by using
the white proxy card they received in the mail from the Fund. If
shares are held in a brokerage account, a broker can vote for the
shareholder only if the broker has been instructed to do so by the
shareholder. Shareholders can give their brokers instructions simply
by signing and dating the white proxy card provided by the Fund and
returning it in a postage-paid envelope provided to them or by
following the instructions for phone or Internet voting on the proxy
card. Shareholders need not contact their brokers directly.
Shareholders may obtain a white proxy card and return envelope by
calling 1-888-293-6728.
   The Salomon Brothers Fund Inc., a diversified investment
management company, is managed by SBAM, an indirect wholly owned
subsidiary of Citigroup Inc.
   For more information, call 1-888-777-0102 or 1-800-SALOMON, or
consult the Fund's web site at www.citigroupam.com. Please note that
past performance does not guarantee future results. Investment return
and principal value of a fund will fluctuate. Current performance may
be lower or higher than the performance data quoted.